Over the last decade, money services businesses like Western Union and PayPal have increased in size and scope across the United States. In 2021, they handled $6 trillion in payments for U.S. consumers, a 117% increase from 2020. State financial regulators, who license and regulate these companies, have taken action to meet the changing needs of this growing sector. Several
Download the Full Comment Letter [PDF] The Honorable French Hill The Honorable Maxine Waters Chairman Ranking Member Committee on Financial Services Committee on Financial Services U.S. House of Representatives U.S. House of Representatives Washington, D.C. 20515 Washington, D.C. 20515 The Honorable Andy Barr The Honorable Bill Foster Chairman, Subc. on Financial Institutions Ranking Member, Subc. on Financial Institutions Committee on
The CSBS model state regulatory prudential standards for nonbank mortgage servicers establish common financial capacity, governance, and risk management requirements for nonbank mortgage servicers.
INTRODUCTION I’d like to start by thanking the Federal Reserve, the FDIC, and the OCC for organizing – and particularly to the Federal Reserve Bank of Chicago for hosting – this event and creating a forum for us to share information and discuss opportunities for improving the strength and well-being of the financial services industry. It is through an open
Up to $82 million in virtual assets to be returned to customers Washington, D.C. — Twenty-five state financial regulators have taken collective action against Plutus Financial, Inc., Abra Trading, LLC, Plutus Financial Holdings, Inc., Plutus Lending, LLC (collectively known as “Abra”), and CEO and largest equity owner William “Bill” Barhydt for operating a cryptocurrency company without receiving the required state
Download the Full Comment Letter [PDF] October 10, 2024 James P. Sheesley, Assistant Executive Secretary Attention: Comments – RIN 3064-AF88 Federal Deposit Insurance Corporation 550 17th Street NW Washington, DC 20429 Re: Parent Companies of Industrial Banks and Industrial Loan Companies Dear Sir: The Conference of State Bank Supervisors 1 (“CSBS”) provides the following comments on the Federal Deposit Insurance
The proposed rule states that currently, validation notices, combined with the limited disclosure of consumers’ rights with respect to debt collection, may limit a consumer’s ability to fully exercise their dispute rights.
CSBS Board Chair Charlie Clark Community Banking Research Conference Opening Remarks St. Louis, Oct. 2 Welcome to the twelfth annual Community Banking Research Conference. As chair of the CSBS Board of Directors, I want to thank our co-sponsors, the Federal Reserve System, and the FDIC, and I want to especially thank our host, the St. Louis Federal Reserve Bank. This
“Preserving America’s Community Banks” Conference of State Bank Supervisors President and CEO Brandon Milhorn Remarks ICBA Capital Summit May 14, 2025 Introduction It is exciting to be here at the ICBA Capital Summit, and energizing to be in a room full of community bankers willing to come to Washington, D.C., and speak with policymakers about the importance of their banks
CSBS Chair and Indiana Director of Banking Tom Fite Community Banking Research Conference Opening Remarks St. Louis, MO Sept. 28, 2022 Thank you, Jim. It is great to see so many of you in person, and I am happy to welcome all of you to the tenth annual Community Banking Research Conference. As chair of the CSBS Board of Directors